Our experience in managing the needs of international business and acting in the capacity of resident director for Australian subsidiaries of overseas entities is second to none.
For any overseas company looking to establish an Australian subsidiary, it is a necessary and a regulatory requirement to appoint a resident director.
Securing your business in Australia can be a daunting task, and we are here to support you with your business decisions by providing you with the guidance needed to get it right the first time.
- Incorporation of Australian Entity, including managing the setup of Australian Tax Office (ATO) & Australian Securities and Investments Commission (ASIC) regulatory requirements
- Oversee Banking requirements in the initial setup
- Provide appropriate indemnities to protect the resident director and ensure non-resident directors have complete control over the Australian operations
- Arrange for your Australian operations to have a substituted year-end in line with head office operations
- Arrange, if necessary, your Australian operations to be exempt from audit
- Implement financial control and systems to manage the accounting affairs of the Australian operations in line with the reporting requirements of your head office operations
- Provide our expertise to manage the day-to-day accounting needs of the Australian operations
- Manage the ongoing financial reporting and tax compliance needs of the Australian operations to ensure the company’s affairs are accurate and lodged on time to the necessary regulatory bodies
- Provide consultative advice and support for the successful growth of the Australian operations
What will the nominee director or Shareholder require before agreeing to act?
A nominee director will generally require you to:
- Provide them with an overview of the company’s current and proposed activities;
- Provide your business plan, forecasts and budgets;
- Provide any advice that you have that confirms the activities of the company comply with Australian local laws, (e.g. local licensing requirements, consumer laws, importation laws, tax laws, TGA approvals, etc)
- Provide evidence of your financial standing, or the financial standing of the foreign company holding the shares in the Australian company – to show that the company will remain solvent;
- Confirm that the company has appointed a local accountant and Tax Agent;
- Agree to provide regular financial and operational reports, and to provide them direct access to your local accountant and Tax Agent;
- Agree to their fees and charges for acting as a director; and
- Agree to indemnify the company and the nominee director for any liabilities that the company is not able to meet in Australia, in order to avoid insolvency. This will generally make either you, or the foreign parent company, liable for the debts and obligations of the Australian company.
We will only provide Nominee Director Services on the following conditions:
- We receive the proof of identity and proof of address (utility bill/bank statement not older than 3 months) on the beneficial owner. Scan copy to start the process but we will require certified original copies by post within 2 weeks.
- Reference letter on the UBO from the bank, employer, accountant OR solicitor who has known him/her for over 2 years.
- We will need to know reasons for requiring a Nominee Director
- We will need to know the nature of the business
- The company's registered office should be with us
- We expect to see relevant information on how the business is being conducted. The annual accounts of the company should be done with us as the director needs to sign the accounts.
- If the company is GST registered, the GST returns must be done by our accountant.
- In the case the client wants to dissolve the company, he must inform us. We will terminate ourselves and will not act as a director at the time of dissolution if the company is older than a year.
A Nominee Shareholder would represent the shareholder of the company and will be used for security reasons to protect the personal information of the actual shareholder. A contracted Nominee Shareholder will disclose the necessary information such as ID and passport numbers without you having to share what you do not want to.
Contracting a Nominee Shareholder requires you to protect your rights to your shares with Nominee Shareholder issuing a Declaration of Trust that certifies your full ownership of your shares while the nominee represents you.
Other Foreign Company Services
For any overseas company looking to establish an Australian subsidiary, we can provide a number of additional business registration and support services as required.
These services include the following (however additional services can be arranged on as needed basis):
- Establishment of a new proprietary limited company
- Registration of an ABN (Australian Business Number)
- Registration for GST (Goods and Services Tax)
- Opening of a business bank account
- Provision of a Registered Office Address in Australia
- Provision of a business address facility in Australia
- Related corporate secretarial services
For further information about our services including pricing please contact us.
If you have any questions or would like to know more about our services, please contact us.